A new company called Alchemy IoT says it has $4 million seed funding to “simplify the industrial internet of thing using artificial intelligence”.

The company says it addresses the high costs and complexities of AI-based IoT for small- to mid-sized industrial customers with “no-code” cloud-based application, which enables its customers to be up “and running in 48 hours”.

The industrial sector is “still in the early stages” of internet of things adoption, according to a new report, although it says the vast majority have made a start.

Bsquare’s 2017 Annual IIoT Maturity Study reveals 86 percent of industrial organizations have adopted IoT but “fewer than half” are using advanced analytics and only a quarter have taken steps to automate the application of insights

Martyn Williams, managing director of industrial automation software expert Copa-Data UK, discusses how machine builders can use predictive analytics to minimise the maintenance and downtime costs of their products

The cost of production downtime varies significantly from one industry sector to another, but without a doubt, when it occurs, downtime is a troublesome and expensive inconvenience for all manufacturers.

More often than not, halts in production could be avoided, so imagine just how much manufacturers could save if machine data was available to anticipate breakdowns.

Kuka, one of the world’s biggest industrial robotics companies, is to develop a smart manufacturing platform in collaboration with Chinese communications giant Huawei.

Kuka and Huawei signed a deal to develop what could be a global network – built on the industrial internet of things – to enable the connection of robots across many factories. The companies say they plan to integrate artificial intelligence and deep learning into the system.

In the new manufacturing era, robots will play an increasingly important role in helping manufacturing businesses remain agile and drive growth, say the two companies.